"Smishing" Is Newest Identity Theft Threat

   

Posted: Oct 20, 2009

Criminals who specialize in identity theft are discovering new, technology-based ways to trick people into giving up their credit information - and they're as close as your cell phone or other mobile devices.

In a recent story from the Dayton Daily News, the Better Business Bureau's John North noted that some criminals are using text messages when hunting for consumers' credit information. The practice, which has been dubbed "smishing", combines text messaging and the practice of "phishing". 

Phishing occurs when criminals pose as officials with financial institutions or businesses in order to fool people into giving away their credit information. Oftentimes these solicitations are done through e-mails. Smishing takes those techniques and applies them to phone messages. The "sm" in smishing comes SMS, the acronym for short message service, commonly known as text messaging. 

"They need to verify personal information and provide websites or telephone numbers for you to do so," North said. "Once entered, thieves use your information to steal your money and identity."

In another recent report, the Miami Herald noted that some identity theft criminals are using other new technologies to steal credit information on the web. Identity thieves may use equipment that allows them to be miles away from a wireless network while trying to commit credit fraud.